Categories: Technical analysis

GBPAUD Wave Analysis – 3 November, 2021

• GBPAUD reversed from key support level 1.820

• Likely to rise to resistance level 1.8500                                                                  


GBPAUD currency pair continues to rise after the price reversed up from the key support level 1.820 (which has been reversing the price from the end of May) – strengthened by the lower daily Bollinger Band.

The upward reversal from the support level 1.820 created the daily candlesticks reversal pattern Morning Star – which started the active impulse wave (3).

Given the strength of the support level 1.820, GBPAUD currency pair can be expected to rise further toward the next resistance level 1.8500.

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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The FxPro Tech Analysis Team
Tags: GBPAUD

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